Communities Partner with Development Firm to Boost Innovation

Mayor John Hamilton of Bloomington and Mayor James Lienhoop of Columbus announced a joint community partnership with Elevate Ventures, a venture development organization based in Indianapolis, IN.

This three-year, up to $2.5 million partnership was formed with the mission to develop a culture and infrastructure of sustainable innovation and entrepreneurship in the South Central Indiana region.

The terms of the agreement include an up to $1.5 million contribution by Elevate Ventures and $1 million from the communities. These funds for program support and investment are designed to begin the cultural shift toward entrepreneurism and innovation. Initiatives will include investments in local high-potential high-growth businesses, portfolio services, events for entrepreneurs and investors, marketing support, business coaching, access to professional resources, a dedicated Entrepreneur-in-Residence and more.

Stakeholders and leaders in South Central Indiana representing a range of interests were involved in the decision to join forces with Elevate Ventures. Official partners and key supporters will be announced during the launch event on Dec. 6 at 5:00 PM at Big Woods at Hard Truth Hills Welcome Center in Nashville, IN. The public and media are welcome to attend this event.

Elevate Ventures evolved from the 21st Century Research and Technology Fund founded in 1999, which was primarily a grant-making agency supporting academic institutions in Indiana. Since then it has grown to be regarded as a critical guide, resource and community catalyst for developing high-performing, high-growth, Indiana-based businesses.